Bitcoin Eyes $82K as Morgan Stanley Strategist Declares Correction Mostly Over

Bitcoin Eyes $82K — Bitcoin price is targeting $82,000 as a Morgan Stanley strategist suggests the recent market correction is largely complete, with BTC defending the $80,000 support level.

BTC/USD reached $81,687 on Wednesday, extending a rebound as bid liquidity strengthened around the $79,000 to $80,000 zone. The move coincided with a significant rally in Asian tech stocks, with South Korea‘s KOSPI Composite Index gaining over 6% for the session.

Mike Wilson, Morgan Stanley’s chief US equity strategist, told CNBC that “most of the correction is already over,” noting the market has been digesting a sell-off for several months. His comments on a potential new bullish phase for tech stocks arrived as US markets awaited major corporate earnings reports.

Analysts remain watchful of key resistance near $82,000. Crypto trader Rekt Capital noted Bitcoin’s weekly chart structure bears similarities to the 2022 bear market, with uncertainty persisting over whether BTC can establish a new trading range above that level.